Section 73B provides for collection of interest on amount collected in excess. For this purpose, the rate of interest chargeable is notified at 13% per annum
Date: 19th April, 2006
Notification No. 8/2006-Service Tax
G.S.R. 224(E).- In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32 of 1994), the Central Government hereby fixes the rate of interest at thirteen per cent. per annum for the purpose of said section.
F.No. B1/4/2006-TRU
